Gemini, Bitstamp, BitFlyer and Bittrex …

Gemini, Bitstamp, BitFlyer and Bittrex create the Virtual Commodities Association

Several of the largest cryptocurrency exchanges have decided to create a new structure designed to eradicate manipulation in the digital asset market, writes Bloomberg.

The Virtual Commodities Association was formed by Gemini founders Cameron and Tyler Winklevoss. The group also includes Bitstamp, BitFlyer USA and Bittrex, according to a statement released on Monday. Representatives from the four marketplaces will meet in September to secure provisions for the future functioning of the organization.

The Virtual Commodities Association will develop standards for the industry, promote market transparency, and work with regulators, including the US Commodity Futures Trading Commission (CFTC), to prevent manipulation of Bitcoin, Ethereum and other cryptocurrencies.

Gemini, Bitstamp, BitFlyer and Bittrex ...

Maria Filipakis, formerly of the NYC Department of Financial Services, where she helped create a license for cryptocurrency companies wishing to operate in the state, called BitLicense, was appointed as the organization’s interim CEO..

Earlier, the Winklevoss brothers tried to launch their own exchange-traded fund (ETF) tied to bitcoin, but the US Securities and Exchange Commission refused them twice, citing, among other things, the lack of adequate measures to prevent manipulation in the cryptocurrency market as the reasons for their decision..

Similar articles

  • Bittrex cryptocurrency exchange insured…

    Bittrex cryptocurrency exchange insured clients ‘assets for $ 300 million American cryptocurrency exchange Bittrex insured its clients’ digital assets,…

  • Bitstamp has insured assets…

    Bitstamp has insured client assets against crime-related losses One of the oldest exchanges in the cryptocurrency market, Bitstamp, has announced a new…

  • Bitstamp customers will be able to instantly…

    Bitstamp clients will be able to instantly fund their accounts with dollars through the Ripple system.Users of one of the oldest cryptocurrency exchanges in the Bitstamp market…

  • Bittrex cryptocurrency exchange clients…

    Clients of Bittrex International cryptocurrency exchange will be transferred to a new platform Maltese focused on serving international clients…

  • Bittrex Launches OTC…

    Bittrex Launches OTC Platform Supporting Nearly 200 Cryptocurrencies American Cryptocurrency Exchange Bittrex This Monday Launches…